Wednesday’s selloff overshot the 28.895 downside target of the compelling pattern shown, telegraphing more weakness ahead. Also, like June Gold, July Silver futures has yet to bounce energetically enough to create a bullish impulse leg on the hourly chart. These signs lend weight to the 28.100 target shown as a likely place for a tradable bottom. Camouflageurs should start to look for a subtle reversal pattern on the 30-minute chart from 28.835 on down. If your aim is to get short, use minor-degree, downtrending ABCs that are as subtly impulsive as the ones we’ve used on the way up.
